{
  "ticker": {
    "uuid": "1f936c7a-86d4-4714-bf28-c57b1253fb07",
    "symbol": "REP",
    "name": "Repsol, S.A.",
    "exchange": "MCE",
    "country": "ES",
    "assetType": "equity"
  },
  "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.",
  "analysis": {
    "eligible": true,
    "as_of": "2026-08-07",
    "benchmark": "^IBEX",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Re-accelerating",
    "architecture_gate": "up",
    "architecture_direction": 66.361,
    "architecture_energy": 87.226,
    "architecture_maturity": 20.415,
    "architecture_confidence": 85.93,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding upward.",
        "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing."
      },
      "scores": {
        "balance": 21.08,
        "rotation_up": 77.81,
        "upward_expansion": 95.27,
        "deceleration": 44.67,
        "rotation_down": 8.07,
        "downward_expansion": 21.93
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      "activity_lines": [
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        22.65578
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      "activity_state": "Wide",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.666667
    },
    "latest_close": 25.280001,
    "trend_reference": 21.420434,
    "distance_from_trend": 0.180182,
    "trend_direction": "Improving",
    "fair_value": 13.951267,
    "distance_from_fair_value": 0.812022,
    "fair_value_direction": "Improving",
    "relative_strength": 17.228933,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.50521,
    "excess_performance": 0.380779,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.180182,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.134937,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.812022,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.10937,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.172289,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.088978,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.50521,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.704767,
        "read": "Demand-led"
      }
    ],
    "volume": {
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      "relative_activity": 0.742346,
      "balance": 1.704767,
      "dry_up": 0.980528,
      "accumulation_observations": 3,
      "distribution_observations": 1
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    "risk": {
      "range_context": 0.049752,
      "annualized_volatility": 0.385258,
      "from_high_reference": -0.055306,
      "from_low_reference": 0.981003
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    "levels": {
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      "fair_value_reference": 13.951267,
      "structural_low": 16.565001,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
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    "outcomes": [
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        "horizon": "Near term",
        "sample_count": 29,
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        "sufficient": true
      },
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        "horizon": "Intermediate",
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        "horizon": "Extended",
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        "horizon": "Full cycle",
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      },
      {
        "date": "2026-07-17",
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      },
      {
        "date": "2026-07-24",
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        "typical_volume": 19808397.65,
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        "relative_strength": 25.189158,
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      },
      {
        "date": "2026-07-31",
        "close": 26.290001,
        "volume": 18892674,
        "typical_volume": 18826904.1,
        "trend": 21.1111,
        "fair_value": 13.865166,
        "relative_strength": 25.192614,
        "stage": 2,
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        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 83.781056,
        "energy": 91.556842,
        "activity_lines": [
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      },
      {
        "date": "2026-08-07",
        "close": 25.280001,
        "volume": 12780793,
        "typical_volume": 17216749.3,
        "trend": 21.420434,
        "fair_value": 13.951267,
        "relative_strength": 17.228933,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
        "gate": "up",
        "direction": 66.36075,
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        "activity_lines": [
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      }
    ],
    "method": {
      "price_basis": "completed market observations",
      "trend": "Trend provides the primary directional reference.",
      "fair_value": "Fair Value provides long-term price context and is not a forecast or target.",
      "relative_strength": "Relative Strength shows leadership or lagging performance against the market benchmark.",
      "classification": "The SM framework combines Trend, Activity, Fair Value, Relative Strength and participation into a structural read."
    }
  }
}